Public Education Reinvestment, Reinvention, and Responsibility Act (Three R's)

[AI summary unavailable — showing source text] Public Education Reinvestment, Reinvention, and Responsibility Act (Three R's) - Amends The Elementary and Secondary Education Act of 1965 (ESEA) to reauthorize through FY 2005 and revise various ESEA programs. (Sec. 3) Declares U.S. national educational priorities addressed by this Act. Title I: Student Performance - Revises and renames ESEA title I as Student Performance (currently Helping Disadvantaged Children Meet High Standards). (Sec. 102) Declares it to be U.S. policy to ensure that all students receive a high-quality education by: (1) holding States, LEAs, and schools accountable for increased student academic performance results; and (2) facilitating improved classroom instruction. (Sec. 103) Extends the authorization of appropriations for the following title I programs under: (1) part A, LEA grants; (2) part B, Even Start; (3) part C, education of migratory children; (4) part D, prevention and intervention programs for youth who are neglected, delinquent, or at-risk of dropping out; (5) provisions for capital expenses; and (6) part E, Federal evaluations, demonstrations, and transition projects. (Sec. 104) Requires SEAs to reserve a specified portion of their title I par…